Net Worth
According to Swedish business weekly Veckans Affärer, he is one of the wealthiest people in the world. This report is based on the assumption that Kamprad owns the entire company, an approach that both IKEA and the Kamprad family reject. Kamprad retains little ownership in the company, having transferred his interest to Stichting INGKA Foundation and INGKA Holding as part of a complex tax sheltering scheme that leaves his actual degree of control vague.
As of March 2007, Ingvar Kamprad was the fourth wealthiest person in the world, according to Forbes magazine, with an estimated net worth of US$33 billion. In March 2010, Forbes magazine estimated his fortune at US$23 billion, making him the 11th richest person in the world. However, as of March 2011, Kamprad's net worth had declined substantially (down US$17 billion) to a final value of US$6 billion. He had fallen from 11th spot on Forbes to 162nd because his lawyers produced documents that prove the foundation he created, and heads, in Liechtenstein owns IKEA, and its bylaws bar him and his family from benefiting from its funds.
Read more about this topic: Ingvar Kamprad
Famous quotes containing the words net and/or worth:
“The violent illiteracies of the graffiti, the clenched silence of the adolescent, the nonsense cries from the stage-happening, are resolutely strategic. The insurgent and the freak-out have broken off discourse with a cultural system which they despise as a cruel, antiquated fraud. They will not bandy words with it. Accept, even momentarily, the conventions of literate linguistic exchange, and you are caught in the net of the old values, of the grammars that can condescend or enslave.”
—George Steiner (b. 1929)
“Music is the sound of the universal laws promulgated. It is the only assured tone. There are in it such strains as far surpass any man’s faith in the loftiness of his destiny. Things are to be learned which it will be worth the while to learn.”
—Henry David Thoreau (1817–1862)